Open for Consultation: API Code of Ethics and the Rules of Professional Conduct
Members and industry stakeholders are encouraged to provide comments on the exposure draft papers which are available on the API Exposure Drafts page by no later than Friday 11 August 2023.
These standards have been reviewed in line with the API Strategic Plan and the International Valuation Standards exposure draft, to ensure that the API’s professional standards protect members as well as are evolving to be future focussed.
The key changes include:
- clarifying the Impartiality rule (advocate vs. expert) by including definitions of advocate and expert;
- expanding the Rules of Professional Conduct to include: ‘’undertaking desktops’’ to capture all desktop assessments by API Valuers;
- expanding the Rules of Professional Conduct to cover all data sources which may be inputs to a valuation (including data in AVMs);
- update “Residential Property” definition to include ACT Leasehold property;
- expand and clarify the Plagiarism rule to cover all other sources (e.g. ChatGPT)
- providing clarity on knowledge and experience requirements for Members when providing professional services
- clarifying the “conflict of interest” principle in both the Rules and the Code.
Any enquiries, please email Standards